A good spot environment led Shanghai Aluminum to move higher. Yesterday, the spot market price of aluminum in Shanghai rose, the price rose to 21800 yuan / ton level, compared with the Shanghai aluminum month before the holiday contract rose nearly 700 yuan, driven by the high spot premium and external disk rose, today's Shanghai aluminum bull atmosphere is strong, the month contract Jump gap opened higher, once daily limit in early trading.
Today's domestic spot aluminum prices continue to rise, including the Shanghai market aluminum prices approaching 22,000 yuan / ton line. In the Guangdong market, suppliers in the morning market raised their quotas and shipped a lot, driving up the market price. Some traders who held yesterday’s supply were quotations relatively low, and the trading range was at yuan/tonne. At the current price level, due to the constraints of downstream spending power, local aluminum prices have been relatively weak compared with the increase in the past two days. The price difference between aluminum prices in the city remained at 300 yuan/ton.
Recently, the inventory in the domestic market is at a relatively low level, while the tight supply in the Shanghai market, combined with the increase in demand for downstream equipment prepared after the holiday period, is expected to support the maintenance of high aluminum prices, but the market outlook continues to rise and still need to go outside the disk and stocks further decline in cooperation , The market outlook remains cautious.
The price of zinc in Guangdong continued to rise slightly. During the long holidays, local inventories increased by more than 3,000 tons. The supply environment was relatively loose. After the price went higher, the downstream manufacturers' willingness to receive goods was normal, and the transaction status did not improve.
Feton Corporation , https://www.ultraplantgrowlights.com